On June 8, 2012, the IRS announced that the Competent Authorities of the United States and the Netherlands had reached an agreement to clarify the treatment of a limited fund for mutual account or (LFMA) with respect to US source dividends and interest paid to an LFMA. The Agreement provides that a Dutch resident who derives interest or dividends through an LFMA may be entitled to the benefits of the Treaty if all other requirements are satisfied. The Agreement, which entered into force on May 21, 2012, applies to all open tax years to which the Treaty applies. Therefore, in cases where US federal income tax previously was withheld, it may be possible for a Dutch resident to file a claim for refund.